Michaels Acquires Joann’s Intellectual Property and Beloved Brands

A Major Shift in the Craft Retail Landscape

Michaels, one of North America’s largest arts and crafts retailers, has acquired the intellectual property and private-label brands of Joann, the well-known fabric and craft retailer that recently shut down its stores.

The acquisition strengthens Michaels’ position in the fabric, sewing, quilting, and yarn markets while allowing several popular Joann brands to continue under new ownership.

Michaels CEO David Boone said the company is committed to welcoming former JOANN customers and providing the products, value, and creative inspiration they have come to expect.

Financial Details Remain Private

The financial terms of the transaction have not been publicly disclosed.

The deal covers Joann’s intellectual property and a range of its private-label and in-house brands. Michaels has not released detailed information about the purchase price or other financial terms.

Joann’s 80-Year Legacy

Joann began in 1943 with a small store in Ohio and eventually became one of America’s best-known destinations for fabric and craft supplies.

For decades, customers turned to Joann for:

  • Fabrics
  • Yarn
  • Sewing supplies
  • Quilting materials
  • Knitting products
  • Home décor supplies
  • Craft tools and accessories

The company developed a particularly strong following among sewing, quilting, knitting, and DIY enthusiasts.

However, Joann faced growing financial difficulties amid weaker consumer demand, supply-chain challenges, and increasing competition from online retailers and large chains.

After filing for bankruptcy for the second time in less than a year, Joann announced in February 2025 that it would wind down its retail operations.

Big Twist and Other Popular Brands Get a New Home

One of the most notable assets acquired by Michaels is Big Twist, Joann’s popular yarn brand.

The brand is expected to become part of Michaels’ product portfolio, with products planned for availability through Michaels stores and online channels.

For former Joann customers, the move means that some familiar products will continue to be available even though Joann’s physical stores are gone.

Michaels Expands Its Fabric and Sewing Business

The acquisition fits into Michaels’ broader strategy to expand its presence in fabric and sewing.

The retailer plans to introduce more than 600 new products, including:

  • Quilting fabrics
  • Sewing machines
  • Embroidery threads
  • Specialty sewing supplies
  • Crafting materials
  • Products from new and established brands

With Joann’s retail network gone, Michaels has an opportunity to capture customers who previously relied heavily on Joann for sewing and fabric products.

About Michaels

Michaels was founded in 1973 and has grown into a major destination for arts, crafts, framing, décor, and creative supplies.

Its product categories include:

  • Paint and drawing supplies
  • Paper crafts
  • Beads and jewelry-making materials
  • Floral products
  • Home décor
  • Fabric and sewing supplies
  • Custom framing

The company has a substantial retail footprint across the United States and Canada.

Why the Acquisition Matters

The transaction could benefit both Michaels and former Joann customers.

For Michaels:

  1. Expands its fabric and sewing business
  2. Adds established private-label brands
  3. Attracts former Joann shoppers
  4. Strengthens its position in the craft-retail market
  5. Adds new products and categories

For Customers:

  • Popular Joann brands can remain available
  • Big Twist products can continue under Michaels
  • More fabric and sewing products are expected
  • Customers gain another major destination for specialty craft supplies

What Happens to the Joann Brand?

The acquisition does not mean Joann’s retail stores are returning.

Instead, Michaels has acquired selected intellectual property and brands, allowing products and brand names to continue in another retail environment.

This distinction is important: the Joann store network has closed, while some of its best-known products and intellectual property are moving forward under Michaels.

The Future of Craft Retail

Joann’s closure marked the end of an important chapter in American craft retail. However, Michaels’ acquisition gives some of Joann’s most recognizable products a chance to continue reaching customers.

For Michaels, the deal represents an opportunity to fill part of the market gap left by Joann while expanding its presence in fabric, sewing, quilting, and yarn.

Conclusion

Michaels’ acquisition of Joann’s intellectual property and private-label brands represents a significant shift in the craft-retail industry.

While the Joann store experience has come to an end, familiar brands such as Big Twist can continue reaching consumers through Michaels.

With hundreds of new products planned and increased investment in fabric and sewing, Michaels appears determined to become an even more important destination for America’s crafting community.